Among U.S. adults who say they are at least somewhat likely to purchase a foreclosed home, 62 percent said they would use the property for their primary residence, 19 percent said they would use it as a rental investment, 8 percent said they would use it as a second home or vacation home, and 6 percent said they would buy and quickly resell.
However, what many folks have forgotten is this is still an EXCELLENT time to buy property. Many sellers have priced their homes competitively, and in doing so, buyers are able to locate very nice homes at great prices. If obtaining a loan, they're able to save thousands of dollars over the years due to such low interest rates.
Keep in mind, if you are selling a home in today's marketplace, it's wise to re-invest and purchase another property while prices and interest rates are so low. The worse thing you can do is NOT RE-INVEST after selling low. In doing so, you'll never be able to re-coup your losses.
If you are interested in buying a townhome or condo click here to learn what you should consider.